In his spending review, announced in parliament yesterday, chancellor Gordon Brown said he would increase the OFT’s budget from £34m this year to £55m by 2005/2006.
Brown told MPs: ‘We are determined that everything is done to the highest corporate standards.’
He also mentioned the audit review, conducted by the Department of Trade and Industry, due out next month which, he said, would spell out accounting and audit reforms.
In addition Brown pledged help to small businesses with corporate tax cuts and stamp duty exemptions for high unemployment areas extended to SMEs.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements